Missouri River Medical Center Board of Trustees May 23, 2017

Transcription

1 Missouri River Medical Center Board of Trustees May 23, 217 A regular meeting of the Board of Trustees of the Missouri River Medical Center was held on May 23, 217 in the Reach Education Room of MRMC. The meeting was called to order by Chairman, Mike O Hara at 3:1 PM. Members: Members present were Mike O Hara, Nikki Stovall, Mavis Engellant, Ross Rettig, and Larry Bauer. Also present were Louie King, CEO; Janice Woodhouse, COO-DON; Shari Dolan, CFO; and Star Taylor, Recorder. Minutes: Minutes of the April 25 th meeting were reviewed. MOTION: The MRMC Board of Trustees approve the minutes of the April 25, 217 meeting as written. Motion was made by Nikki Stovall, second by Larry Bauer. Motion passed unanimously. Foundation Report: The rectory is in the stages of being moved by Tametti Construction. Janice has visited with them and they are willing to submit a bid to remove the rectory foundation. Board Action Items: Board Member Oath: Nikki Stovall took the oath to serve as a Trustee for the next 3 years. Conflict of Interest Policy: All of the Trustees read and signed the Conflict of Interest Policy. This policy needs to be signed annually. Manual review: The Policy & Procedure Manual, Contract Manual, and Medical Staff By-Laws was reviewed and signed. Renewal of Benefis Management Contract: MOTION: The MRMC Board of Trustees approves accepting the Benefis Management contract for a period of 1 year. Motion was made by Nikki Stovall, second by Mavis Engellant. Motion passed unanimously. Page 1 of 3, May 23, 217

2 Renewal of Benefis Provider Services Agreement: MOTION: The MRMC Board of Trustees approves accepting the Benefis Provider Services Agreement for Dr. Jace Bird for three (3) years. Motion was made by Ross Rettig, second by Larry Bauer. Motion passed unanimously. Projects: The CBDG grant is progressing and we should hear something in late July or August. We have submitted the application for the Murdock Grant. Improvements/equipment: We received $5, from the Lippard-Clawriter Foundation for the purchase of another Defibrillator in ER2 but have not made this purchase. Star priced out a new lifepak and a refurbished model; new is $3, with a refurbished coming in at $25,. Janice and Star will look at other options including contacting Benefis to see if they will include us in the replacement of their LifePaks. COO-Nursing Service Report: Construction of the O2 storage unit will be next week. The repairs to the shower will start soon. We have been having some plumbing issues but they are being corrected. Eco-Lab has been coming out to work on the dishwasher and they found that the facility water softener has quit working. Upon checking Janice found that the water softener was still under warranty. It was purchased thru Longhorn Plumbing which has gone out of business but Janice contacted the manufacturer and it sounds like they will honor the warranty. Financial Services Report: Financial Statement Gross Operating Revenue for April was $485,6 with Contractual Adjustments of $27,434), other deductions of $(3,75) and Operating Expenses of $461,9 which resulted in a net operating gain of $56,168. This report was a draft since information from the county was not available. Outpatient & Inpatient Services: Emergency Department visits were 44 for April. Physical Therapy visits were 246. Inpatient days were 11; Swing bed days were 79, Long-term Skilled Nursing days 594 for a total of 684 Patient days. Clinic Services: Benton Medical Center had 331 provider visits in April. Lab & Radiology Services: The lab conducted 2,288 tests and Rad conducted 45 tests. There were 12 CTs done. Shari reported that with visiting with Shelly Murphy from MACo and the hospitals contribution to the employee health insurance needs to be revisited. This contribution will be revisited next month when Shari has time to put some numbers in place. The feasibility study is taking some time to be completed. CEO Report: Louie reported to the Trustees that the incentive adopted last month for the Nurses has been well received and effective. Page 2 of 3, May 23, 217

3 A new provider has been hired. Caren Pfierffer started on Monday and will be a great asset to the facility with her extensive ER background. Louie will try to get her to the next board meeting for introductions. MOTION: MOTION: MOTION: The MRMC Board of Trustees approves going into executive session. Motion was made by Mavis Engellant, second by Larry Bauer. Motion passed unanimously. The MRMC Board of Trustees approves coming out of executive session. Motion was made by Ross Rettig, second by Larry Bauer. Motion passed unanimously. The MRMC Board of Trustees approves adjourning this meeting. Motion made by Mavis Engellant, second by Nikki Stovall. Motion passed unanimously. The next meeting is scheduled for Tuesday, June 2, 217; at 3:pm. Respectfully Submitted, Mike O Hara, Chairman Star Taylor, Recorder Page 3 of 3, May 23, 217

4 Missouri River Medical Center Finance Report May 217 Financial Statements Statement of Operations Revenue: InPatient: In Patients 4 Total In Patient Days 1 Skilled Swing Bed Patients - 1 Total SSB Days 32 CAH LTC Patients 2 Total SNF Days 572 OutPatient: PT 234 visits Lab 169 patients 2,21 tests ER s 41 visits Clinic Visits 345 Rad 38 tests CTs 16 tests Contractual Allowances $424,745 Medicare $9,1 Medicare Swing Bed $. Medicaid $41,236 Clinic - $25,171 Other Insurance $32,916 Charity - $85 Employee Discount - $42 AR Allowance Adjustment - $315,151 Provision for Bad Debt ($348,67) Bad Debt Allowance and Write-Off ($344,818) Bad Debt Recovered ($3,852) Other Operating Revenue Cafeteria - $1,15 School PT Services - $1,547 Medical Records Fees - $27 Expenses: Will report anything that seems unreasonable. Salaries: Down one provider new one started the end of May Benefits: Correlation to salaries Professional Fees: Budget included the catch up of the Management fees owed to Benefis. This is now paid in full and MRMC is paying the standard monthly fee only. Supplies: Correlation to lower volumnes Repair and Maintenance: Plumbing issues Purchased Services (Utilities): 1

5 Clinic Expense: Final catchup of BMG (Provider) services payments made in the month Depreciation: Monthly entry change, based on FY16 audit and new Dep Schedule Other Expenses (Insurance, Leases & Rentals, Travel, Educ, Postage, Dues): Chiller Setup and Lease - $1,82 Non-Operating Gain/Loss: Non-Operating Revenue - $34,27 Rent - $5 Interest - $421 RH Navigator Grant - $11 Rural Care UCC Grant (For TeleHealth ER Connectivity) - $3,86 Other - $771 Non-Operating Expense Tele ER - $2,553 Balance Sheet Assets: Cash & Cash Equivalent $1,145,164 General Checking $1,129,676 ($44K is Strand donations) Petty Cash - $4 Credit Card $9,74 Data Bank Account - $139 Patient Account - $5,29 Net Patient Accounts Receivable Change in account charges, payments and contractual adjustments for the month. Other Receivables $37,946 Taxes Receivable - $7,74 Employee Receivables $58 Other - $3,813 Supply Inventory Change in supplies purchased for the month and supplies disbursed to departments for the month. Other Current Assets - $5,141 Prepaid Expenses Insurance - $21,594 Service Agreements - $28,547 Board Designated Cash and Investments - $136,48 Investments at County - $86,48 MHN (WorkComp) Equity - $5, Property, Plant and Equipment - $1,464,83 Land - $93,94 2

6 Liabilities: Buildings - $2,731,85 Fixed Equipment - $26,87 Moveable Equipment - $2,273,624 EHR Software - $287,542 Construction in Progress - $277,145 Building of new rectory and architectural drawings Accumulated Depreciation ($4,235,213) Accrued Compensation This consists of Accrued Payroll, which is wages and benefits earned, but not paid, and accrued vacation and sick leave. Accounts Payable This is the amount paid for the current month s liabilities, but the checks were written in the next month. Also, contains AP which has been entered into the system, but the checks have not been written. Payable to Contractual Agencies This consists of In Patient Bed Tax Payable, which has accrued, but has not been paid yet. These payments are made annually to the State of MT for the IP Bed Tax in December In Patient - $17. Other Current Liabilities $5,79 Security Deposit Rental - $5 Resident Cash Payable - $5,29 Long Term Debt Intercap Loans - $458,378, Medicare Payable ($3,896) Fund Balances This is only adjusted at the time of the audit, as it takes into account the revenue on hand at the beginning of the fiscal year, plus revenues received during the year, less expenses equal ending fund balance. The Ending Fund Balance becomes the Beginning Fund balance in the next fiscal year. 3

7 Missouri River Medical Center Cash on hand (beginning of the month) CASH FLOW PROJECTION Missouri River Medical Center Jan Feb March April May June July Aug Sept Oct Nov Dec Initial Total 183,12 183,12 374, , ,9 946, ,243 56, ,261-1,162,839-1,852,91-2,44,843-3,22,595-3,46,847 Cash receipts Collections on accounts receivable UMIA Payments Mill Levy Funds Foundation/Other Donations Loan Proceeds 43,12 589, , , , , 425, 425, 425, 425, 425, 425, 5,327,963 UMIA pmts cease 5/218 Through 221 4, ,344 43,934 11,35 2, 1,5 1,5 1,5 1,5 1,5 2, 575, , 13, , , 321, Other NonOperating Revenue Rent, Grants, Interest ,154 2,755 5, Total cash receipts 755,749 59, , ,78 524, ,65 427,15 427,15 427,15 427,15 427,15 625,65 6,441,891 Cash paid out Gross Wages Employee Benefits Health Insurance Professional Fees Supplies Repair and Maintenance 25,87 27, , ,145 23,88 2, 2, 2, 3, 2, 2, 2, 2,629,349 22,225 22,371 17,231 27,623 2,736 22, 22, 22, 22, 22, 22, 22, 264,186 3,384 29,819 29,253 27,732 27,779 3, 3, 3, 3, 3, 3, 3, 354,967 26,371 24,71 49,488 41,71 31,61 2, 2, 2, 2, 2, 2, 2, 312,62 3,31 51,183 35,959 48,697 25,846 4, 4, 4, 4, 4, 4, 4, 471,995 7,87 8,457 11,585 23,323 13,997 7,5 7,5 7,5 7,5 7,5 7,5 7,5 117,669 Utilities 11,787 8,563 15,568 11,493 9,82 8,5 9, 9, 9, 8,5 9, 1, 12,213 Insurance 6,114 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 61,48 Leases & Rentals -3,9 1, ,946 9, 9, 9, 9, 9, 1,5 1,5 56,872 Clinic 4,477 17,1 23,53 4,875 25,743 15, 15, 15, 15, 15, 15, 15, 216,599 Depreciation -26,467 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 66,21 Interest -33 1, , ,247 Other Expenses 9,621 15,954 12,132 1,24 8,57 1, 1, 1, 1, 1, 1, 1, 126,454 Subtotal Operating Expense Intercap Loan Payments Medicare/Medicaid Cost Report Payable Reconcile GL Cash to County Reports due to outstanding checks Outstanding Accounts Payable Subtotal Balance Sheet Changes 37,457 4, , ,9 418,38 375,92 376,42 381,57 476,42 375,92 368,92 369,92 4,88,222 5 OS Loans - Maturity dates of 8 36,158 36, ,9 22,7 12, ,56 165,289 2, 2, 2, 2, 2, 2, 2, 2,192,4 193,9 22,7 12, ,56 165,289 2, 2, 236,158 2, 2, 2, 2, 2,228,162 Total cash paid out + Outstanding AP 564,357 62, ,36 589,65 583, ,92 576,42 617, ,42 575,92 568,92 569,92 7,36,384 Change in Cash 191,392-11,81 162,617-34,87-58,882 49, ,252-19, , , ,752 55, ,493 Less Strand Donations -44, -44, -44, -44, -44, -44, -44, -44, Cash on hand (at the end of the month) if all OS AP were paid and less Strand donations 374, , ,9 663,22 447,243 56, ,261-1,162,839-1,852,91-2,44,843-3,22,595-3,46,847 Days Cash on Hand Essential Operating Data Net Patient Revenue Accounts receivable (end of the month) Bad debt (end of the month) Inventory on hand (end of the month) Accounts payable (end of the month) Depreciation 554,953 22, , , ,547 1,985,447 1,635,824 1,285,782 1,19,893 1,234,613 1,152,189 6,499,31 6,622 3,935 1, ,796 32,92 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 1,251,48 193,9 22,7 12, ,56 165, ,4-26,467 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 66,21

8 Initial Jan Feb March April May June July Aug Sept Oct Nov Dec Inflows Outflow Avg.Cash 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % 5 Largest Expenditures - Annualized Gross Wages OS AP EmployBenefits/Health Ins Supplies Professional Fees

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